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Thread: City Plaza En Bloc

  1. #6

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    That might be a bone of contention and a stumbling block. It would be interesting to see how they work it out. Have there been any other mixed developments of this size that have successfully gone enbloc?


  2. #7

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    The owners' shares based on size of the unit(s) will take care of that. If the sellers are savvy, they will base in on psf of Katong Regency and PLQ as a benchmark estimate. An estate/en bloc broker will make those calculations for them.

    My estimate for this FH mixed development land can be sold for easily above $800 million.


  3. #8

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    I understand they are seeking 800 million to 1 billion. But since residential units have smaller share value usually, I wonder if the price will work out to be good enough for the residential owners as they will likely want a replacement unit in same vicinity. Possibly FH of same or nearly same size. This is a goldmine . FH in this area is extremely hard to come by except by enbloc. As Paya Lebar develops further I think the land price will only increase. I heard from a friend who owns a unit that there are a few owners who own multiple units including Second Chance properties. They need to support for it to succeed.


  4. #9

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    Btw I heard that it's not zoned as Mixed development but rather Commercial. The developer can skip Residential altogether and just build office with retail. Would that get them a better price ?


  5. #10

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    Quote Originally Posted by Tulip09 View Post
    Btw I heard that it's not zoned as Mixed development but rather Commercial. The developer can skip Residential altogether and just build office with retail. Would that get them a better price ?
    A blue commmercial site can have residential, hotel or serviced apartments as a mix. For retail or office use only, I think developers are really missing out. Why? A mixed development provides a risk spread as opposed to 100% commercial. You can read more about this in the PLQ/PPR thread. It's about building an ecosystem within a development that supports each other.

    Some recent blue sites which contained or may contain residence are Beach Road site under tender and also PLQ itself.

    I really hope this en bloc goes through as City Plaza is a real juxtaposition against the upcoming landscape around PLQ. Tanjong Katong complex will hopefully be a hotel connected to the future PLQ office building.

    2 cents,
    PropVestor


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